Solved

Match the Following Descriptions with the Appropriate Term

Question 126

Matching

Match the following descriptions with the appropriate term.

Premises:
A comparison of actual costs and budgeted costs
A budget representing only one level of activity
An operating plan expressed in monetary units
A budget that shows the budgeted costs at various levels of activity
A budget made for each manufacturing cost
Costs that vary with, but not in direct proportion to, the volume of activity
Costs that do not change in total as the level of activity changes
Used to determine the fixed and variable components of a semi variable cost
The different levels of activity at which a factory is expected to operate
Costs that vary in total in direct proportion to changes in the level of activity
Responses:
Budget
Budget performance report
Fixed budget
Fixed costs
Flexible budget
High-low point method
Manufacturing cost budget
Relevant range of activity
Semi-variable costs
Variable costs

Correct Answer:

A comparison of actual costs and budgeted costs
A budget representing only one level of activity
An operating plan expressed in monetary units
A budget that shows the budgeted costs at various levels of activity
A budget made for each manufacturing cost
Costs that vary with, but not in direct proportion to, the volume of activity
Costs that do not change in total as the level of activity changes
Used to determine the fixed and variable components of a semi variable cost
The different levels of activity at which a factory is expected to operate
Costs that vary in total in direct proportion to changes in the level of activity
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